The operation posted $23.4 million of net premiums last year, less than 1 percent of Travelers' total $4.4 billion of property-casualty premiums, according to financial statements filed with the Department of Insurance.

The department has about 50 employees, almost evenly divided among six offices in Hartford, Chicago, New Orleans, Orlando, Fla., and Orinda and Walnut Creek, Calif.

Travelers would not comment on the future of the employees since no buyer has been found yet.

The company intends to look for a buyer for six months and if it is not successful, it will wind down the business by not renewing policies as they expire.

Travelers wants to sell the operation because "it does not conform with our strategy of focusing on core business areas," said spokeswoman Phyllis Benton.

Much of the ocean marine business has gone to insurance pools that specialize in that line and dominate the market, said William Yankus, a vice president and analyst at Conning & Co. in Hartford.

The ocean marine business has been profitable for Travelers, Benton said, not disclosing numbers.

While net premiums were $23.4 million last year, Travelers incurred $13.4 million of losses on the line, says its financial report to the state.

Travelers' goal of divesting non-core businesses to devote capital to main insurance and health care lines has led the company to sell other businesses over the past several years, including a home mortgage operation, life insurance subsidiary and certain reinsurance and surety operations.

Travelers premiums on ocean marine insurance in Connecticut last year totaled $1.6 million.